The highpoint of a sideline discussion between Mr. Carlos Ghosn, CEO, Nissan Motor Corporation and Nigeria President Goodluck Jonathan at the just ended World Economic Forum in Davos, Switzerland, was on Nissans plant to start rolling out new sports utility vehicles in Nigeria by April.

Mr. Ghosn told President Jonathan that Nissan can produce two to three million vehicles annually, using the facility at the VON Automobile assembly plant along Lagos-Badagry Expressway and consequently creating thousands of direct and indirect jobs.

“We are interested in producing popular cars, totally adapted to the needs of Nigerians, he said, adding that the company also plans to bring its global suppliers to make vehicle components in the country.

Nissan CEO assured the President that the Japanese vehicle manufacturer seeks to increase its investment in Nigeria and establish its own vehicle production plants in the country.

This initiative is coming on the heels of the new National Automotive Policy authorized by the Federal Government to encourage domestic production of automobiles and attract foreign direct investment (FDI).

Already work is ongoing at the VON Automobile multi-vehicle assembly plant, where Ashok Leyland buses and trucks as well as light duty Hyundai trucks are currently being assembled.

Mr. Tokunbo Aromolaran, Managing Director, VON Automobile Nigeria Limited has also said: One of our biggest hopes is to stimulate some area around this location and make them components manufacturing village where components can be manufactured.

Meanwhile, President Jonathan has said his administration is fully committed to rapidly developing Nigerias automobile industry through the diligent implementation of the countrys new national automotive policy.

He said the key objective of the new policy was to make new cars affordable to more Nigerians.

“The only way to reduce the preponderance of second hand cars on our roads is to produce good quality cars with affordable pricing, President Jonathan reasoned.

He however assured investors in the local automobile parlance of huge ready market, adding that gthe automobile industry in Nigeria has a huge potential for growth. The market is not just Nigeria, but the entire West African region.